Strong Homebuyer Demand in Central Florida

The news is out:
It is a great time to buy a home in Central Florida!

Homebuyers have jumped in to the real estate market.

• Number of sales (Jan - June, 2010) up 38% over same time period last year.
• Over past six months median home price rose each month (Jan 2010: median $102,000, June 2010: median $116,000)

Distressed sales, bank owned and short sales, are keeping prices low

• 2/3 of the sales were distressed sales
• current inventory of 5.75 months is below balanced market, moving towards sellers market

As long as the distressed sales dominate the market home prices will remain low. Regular sales do sell at a higher price point than distressed homes. In June 2010 the median prices were:

• $175,000 for a "normal" sale
• $115,526 for a short sale
• $77,500 for a bank owned

WINDERMERE, WINTER GARDEN, AND CLERMONT MARKET UPDATE
June 2010 market statistics

                                # Homes Sold        Median Square Footage            Median Sale Price                Median Sale Price/sf

Windermere                76                                        2,842                                    $286,480                                        113

Winter Garden            91                                        2,136                                    $170,000                                         75

Clermont                     84                                        2,070                                    $168,500                                         77


Brought to you by,
Lorraine Burch, Lakefront Homes Consultant
Avalar Real Estate Services
www.HomesCentralFL.com